This page has only limited features, please log in for full access.

Unclaimed
María Sacristán-Navarro
Rey Juan Carlos University, Department of Business Administration, Pº Artilleros s/n Madrid 28032, Spain

Basic Info

Basic Info is private.

Honors and Awards

The user has no records in this section


Career Timeline

The user has no records in this section.


Short Biography

The user biography is not available.
Following
Followers
Co Authors
The list of users this user is following is empty.
Following: 0 users

Feed

Journal article
Published: 03 June 2021 in European Management Journal
Reads 0
Downloads 0

It is widely recognised that the formal institutional context affects firm ownership concentration. However, the impact of the informal institutional context has received less research attention. Drawing from institutional theory, we tested our hypothesis that both the formal and informal (cultural) institutional contexts simultaneously influence firm ownership concentration. Based on a firm-level database of the largest 600 listed companies in 19 European countries for the period 2009–2015, we found that both formal and informal institutional contexts, considered independently from each other, affect the level of firm ownership concentration. However, when these institutional contexts are considered together, the significance of the formal institutional context’s effect on ownership concentration disappears while the informal (cultural) institutional context remains significant. Specifically, our findings indicate that high power distance, collectivism, uncertainty avoidance, restraint, and short-term orientation favour firm ownership concentration. Overall, our findings demonstrate that the diversity in European cultures explains firms’ different levels of ownership concentration across European firms, signalling that the European Union’s efforts towards a common regulatory frame may not necessarily lead to a convergence of European firms’ ownership structures and, consequently, of corporate governance practices.

ACS Style

María Sacristán-Navarro; Laura Cabeza-García; Rodrigo Basco; Silvia Gomez-Anson. It’s all about culture! Institutional context and ownership concentration across Europe. European Management Journal 2021, 1 .

AMA Style

María Sacristán-Navarro, Laura Cabeza-García, Rodrigo Basco, Silvia Gomez-Anson. It’s all about culture! Institutional context and ownership concentration across Europe. European Management Journal. 2021; ():1.

Chicago/Turabian Style

María Sacristán-Navarro; Laura Cabeza-García; Rodrigo Basco; Silvia Gomez-Anson. 2021. "It’s all about culture! Institutional context and ownership concentration across Europe." European Management Journal , no. : 1.

Journal article
Published: 10 December 2020 in European Journal of Family Business
Reads 0
Downloads 0

This paper examines the various contributions of scientific research in the field of dynamic capabilities in the field of family businesses, using a bibliometric approach during the period 2009-2019. The volume of scientific publications found in the Web of Science (WOS) database was equal to 56 articles. The application of bibliometric methods and techniques has allowed to reflect the evolution of the level of publications, active institutions, methodologies employed and main research topics discussed. Taking into account the results obtained, future lines of research are proposed that allow progress in the consolidation of the study of dynamic capacities in the field of family businesses as a scientific discipline

ACS Style

María Paulina Brito Ochoa; Maria Asuncion Sacristan- Navarro; Eva Pelechano- Barahona. A Bibliometric Analysis of Dynamic Capabilities in the Field of Family Firms (2009-2019). European Journal of Family Business 2020, 10, 69 -81.

AMA Style

María Paulina Brito Ochoa, Maria Asuncion Sacristan- Navarro, Eva Pelechano- Barahona. A Bibliometric Analysis of Dynamic Capabilities in the Field of Family Firms (2009-2019). European Journal of Family Business. 2020; 10 (2):69-81.

Chicago/Turabian Style

María Paulina Brito Ochoa; Maria Asuncion Sacristan- Navarro; Eva Pelechano- Barahona. 2020. "A Bibliometric Analysis of Dynamic Capabilities in the Field of Family Firms (2009-2019)." European Journal of Family Business 10, no. 2: 69-81.

Journal article
Published: 03 December 2020 in Sustainability
Reads 0
Downloads 0

This paper explores the relationship between one of the major aspects of the internal mechanism of corporate governance, i.e., the board of directors, and the corporate strategy of cooperation. The study was designed to investigate whether certain board of director characteristics have an influence on the propensity to cooperate in Spanish listed non-financial firms. Our findings reveal that the propensity to cooperate in Spanish firms is driven more by a tight “management effect” whereby the highest probability of occurrence is related to firms with duality on their boards and a lower proportion of nominee directors representing controlling shareholders. This paper adds evidence to the corporate governance-corporate strategy (alliance propensity) discussion in a continental country such as Spain.

ACS Style

Maria Medina-Salgado; María Sacristán-Navarro; Luis Guerras-Martín. Do Boards of Directors Really Matter in the Cooperation Behavior of Firms? An Exploratory Analysis in Spain. Sustainability 2020, 12, 10114 .

AMA Style

Maria Medina-Salgado, María Sacristán-Navarro, Luis Guerras-Martín. Do Boards of Directors Really Matter in the Cooperation Behavior of Firms? An Exploratory Analysis in Spain. Sustainability. 2020; 12 (23):10114.

Chicago/Turabian Style

Maria Medina-Salgado; María Sacristán-Navarro; Luis Guerras-Martín. 2020. "Do Boards of Directors Really Matter in the Cooperation Behavior of Firms? An Exploratory Analysis in Spain." Sustainability 12, no. 23: 10114.

Earlycite article
Published: 04 November 2019 in Journal of Family Business Management
Reads 0
Downloads 0

Purpose The purpose of this paper is to describe internal corporate governance mechanisms in family firms as well as conflicts that may arise among shareholders and family members in the absence of specific corporate governance mechanisms. Design/methodology/approach After presenting theoretical concepts, the authors study the case of Spanish family firm El Corte Inglés to understand some of the corporate governance difficulties the company has experienced over the past few years. Findings This case illustrates how corporate governance problems can arise because the right mechanisms have not been used, leading to conflicts among family members, valuation problems and power struggles. Practical implications There is a need for family firms to employ suitable corporate governance mechanisms as governance complexity increases. Originality/value This study aims to contribute to the understanding of corporate governance problems among family members and their possible solutions.

ACS Style

María Sacristán-Navarro; Laura Cabeza-García. When family firm corporate governance fails: the case of El Corte Inglés. Journal of Family Business Management 2019, 10, 97 -115.

AMA Style

María Sacristán-Navarro, Laura Cabeza-García. When family firm corporate governance fails: the case of El Corte Inglés. Journal of Family Business Management. 2019; 10 (2):97-115.

Chicago/Turabian Style

María Sacristán-Navarro; Laura Cabeza-García. 2019. "When family firm corporate governance fails: the case of El Corte Inglés." Journal of Family Business Management 10, no. 2: 97-115.

Journal article
Published: 02 July 2018 in European Journal of Family Business
Reads 0
Downloads 0

Este trabajo explora en qué medida el comportamiento exportador de estas empresas puede ser explicado a través de modelos incrementales, siguiendo el modelo propuesto por Cavusgil (1980). Utilizando datos de la Encuesta de Estrategias Empresariales, se analiza un panel de empresas para el periodo temporal 1994-2005. Los resultados sugieren la aceptación del modelo incremental de Cavusgil para explicar la conducta exportadora de las Pymes españolas con ciertas limitaciones. Respecto de las empresas familiares, los resultados indican el bajo compromiso internacional de las Empresas Familiares frente a las no familiares, así como una conducta exportadora diferente a la de las Pymes. Se puede concluir que las Empresas Familiares manufactureras españolas no siguen un comportamiento en su proceso exportador que pueda ser identificado como un proceso incremental.

ACS Style

María Sacristan Navarro; Guadalupe Rico García; Carmen Lafuente Ibáñez. La conducta exportadora de las Pymes y de las Empresas Familiares Españolas: ¿siguen una aproximación incremental? European Journal of Family Business 2018, 1, 1 .

AMA Style

María Sacristan Navarro, Guadalupe Rico García, Carmen Lafuente Ibáñez. La conducta exportadora de las Pymes y de las Empresas Familiares Españolas: ¿siguen una aproximación incremental? European Journal of Family Business. 2018; 1 (1):1.

Chicago/Turabian Style

María Sacristan Navarro; Guadalupe Rico García; Carmen Lafuente Ibáñez. 2018. "La conducta exportadora de las Pymes y de las Empresas Familiares Españolas: ¿siguen una aproximación incremental?" European Journal of Family Business 1, no. 1: 1.

Journal article
Published: 01 June 2017 in Journal of Family Business Strategy
Reads 0
Downloads 0
ACS Style

Laura Cabeza-García; María Sacristán-Navarro; Silvia Gómez-Ansón. Family involvement and corporate social responsibility disclosure. Journal of Family Business Strategy 2017, 8, 109 -122.

AMA Style

Laura Cabeza-García, María Sacristán-Navarro, Silvia Gómez-Ansón. Family involvement and corporate social responsibility disclosure. Journal of Family Business Strategy. 2017; 8 (2):109-122.

Chicago/Turabian Style

Laura Cabeza-García; María Sacristán-Navarro; Silvia Gómez-Ansón. 2017. "Family involvement and corporate social responsibility disclosure." Journal of Family Business Strategy 8, no. 2: 109-122.

Book chapter
Published: 12 September 2015 in International Corporate Governance After Sarbanes-Oxley
Reads 0
Downloads 0

This chapter analyzes the significance of family ownership in corporate governance. With specific emphasis on European, Latin American, and East Asian countries, it first evaluates the empirical evidence concerning the importance of families and individuals as large shareholders. In this context, it identifies factors that may influence the existence of family firms and groups, and mechanisms employed by families to enhance their voting rights. It then analyzes the arguments that may link family ownership to firm performance. Finally, it reviews the empirical evidence concerning the influence of families as large shareholders on the overall value of the firm and looks at factors that seem to influence the family's presence in corporate setup.

ACS Style

María Sacristán-Navarro; Silvia Gómez-Ansón. Family Ownership and Corporate Governance. International Corporate Governance After Sarbanes-Oxley 2015, 399 -421.

AMA Style

María Sacristán-Navarro, Silvia Gómez-Ansón. Family Ownership and Corporate Governance. International Corporate Governance After Sarbanes-Oxley. 2015; ():399-421.

Chicago/Turabian Style

María Sacristán-Navarro; Silvia Gómez-Ansón. 2015. "Family Ownership and Corporate Governance." International Corporate Governance After Sarbanes-Oxley , no. : 399-421.

Original article
Published: 29 January 2015 in Corporate Governance: An International Review
Reads 0
Downloads 0

Manuscript Type Empirical Research Question/Issue Using a panel of non‐financial listed firms over a seven‐year period, the authors analyse how the value of family firms is potentially affected by the existence of multiple shareholders, by other large shareholders’ voting rights in relation to the family's, by the final power distribution (that is, whether the family's voting rights exceed those of other shareholders), by the identity of the blockholders, and the existence of shareholder agreements. Research Findings/Insights After controlling for possible self‐selection bias and for endogeneity issues, the results of a Heckman two‐stage method suggest that other large shareholders’ voting rights in relation to the family's do not affect family firm value. The results indicate that what seems to matter is who controls the company in terms of voting power, i.e., whether there is just one large shareholder or other major blockholders as well, and whether they have more or fewer voting rights than the largest owner. The market favors a firm that has multiple large shareholders provided that the family retains control by holding most of the voting rights. However, when there is just one family owner or when other blockholders have more voting power than the family, industry‐adjusted family firm value is negatively affected. The existence of shareholder agreements and families and non‐financial firms as other blockholders has no impact on company performance, while foreign shareholders tend to increase family firm value. Theoretical/Academic Implications Academics should take the presence of multiple large shareholders into account as this can affect family power. It is not a question of collusion or contestability per se. The market seems to value other large investors’ ability to balance family power only if families retain control by holding the majority of the votes. The preferred model therefore resembles that of a king amid nobility, a “primus inter pares”, with other large blockholders (nobility) providing a credible and strong but not overwhelming opposition that benefits minority owners. Practitioner/Policy Implications When multiple large owners exist, firm value is increased if the family retains power. Ownership structure matters and the effect of other large shareholders’ voting rights on minority investors’ wealth has to be considered. New variables to describe particular situations in family firms are needed.

ACS Style

María Sacristán-Navarro; Laura Cabeza-García; Silvia Gómez-Ansón. The Company You Keep: The Effect of Other Large Shareholders in Family Firms. Corporate Governance: An International Review 2015, 23, 216 -233.

AMA Style

María Sacristán-Navarro, Laura Cabeza-García, Silvia Gómez-Ansón. The Company You Keep: The Effect of Other Large Shareholders in Family Firms. Corporate Governance: An International Review. 2015; 23 (3):216-233.

Chicago/Turabian Style

María Sacristán-Navarro; Laura Cabeza-García; Silvia Gómez-Ansón. 2015. "The Company You Keep: The Effect of Other Large Shareholders in Family Firms." Corporate Governance: An International Review 23, no. 3: 216-233.

Journal article
Published: 30 May 2014 in European Journal of Family Business
Reads 0
Downloads 0

El objetivo de este trabajo es analizar el papel de la propiedad familiar en la política de Responsabilidad Social Corporativa (RSC) medida ésta a partir de varios indicadores de transparencia informativa sobre las acciones sociales y medioambientales realizadas por las empresas. Utilizando una muestra de empresas no financieras españolas en el periodo 2004-2010 e identificando el último gran propietario de la compañía a partir de las cadenas de propiedad, encontramos que el compromiso en RSC es menor en empresas con propiedad familiar, si bien, los resultados no indican que la presencia del fundador de la compañía afecte significativamente a las políticas informativas de la empresa. Por otro lado, los resultados relativos al efecto del control ejercido por las familias sobre la transparencia en RSC son mixtos, sugiriendo que el control familiar influye en la política de dar información o no sobre RSC, pero no en la amplitud de la información suministrada al mercado.

ACS Style

Laura Cabeza García; María Sacristán Navarro; Silvia Gómez Ansón. Propiedad familiar, control y efecto generación y RSC. European Journal of Family Business 2014, 4, 1 .

AMA Style

Laura Cabeza García, María Sacristán Navarro, Silvia Gómez Ansón. Propiedad familiar, control y efecto generación y RSC. European Journal of Family Business. 2014; 4 (1):1.

Chicago/Turabian Style

Laura Cabeza García; María Sacristán Navarro; Silvia Gómez Ansón. 2014. "Propiedad familiar, control y efecto generación y RSC." European Journal of Family Business 4, no. 1: 1.

Book chapter
Published: 25 September 2013 in Corporate Social Responsibility
Reads 0
Downloads 0
ACS Style

María Sacristán Navarro; Silvia Gómez Ansón; Christine Mallin. CSR in Spain: Examples of Some Practices. Corporate Social Responsibility 2013, 1 .

AMA Style

María Sacristán Navarro, Silvia Gómez Ansón, Christine Mallin. CSR in Spain: Examples of Some Practices. Corporate Social Responsibility. 2013; ():1.

Chicago/Turabian Style

María Sacristán Navarro; Silvia Gómez Ansón; Christine Mallin. 2013. "CSR in Spain: Examples of Some Practices." Corporate Social Responsibility , no. : 1.

Book chapter
Published: 06 September 2013 in Handbook of Research on Family Business, Second Edition
Reads 0
Downloads 0
ACS Style

María Sacristán-Navarro; Silvia Gómez-Ansón; Laura Cabeza-García; Kosmas Smyrnios; Panikkos Poutziouris; Sanjay Goel. Other large shareholders in family firms: do they monitor? Handbook of Research on Family Business, Second Edition 2013, 161 -183.

AMA Style

María Sacristán-Navarro, Silvia Gómez-Ansón, Laura Cabeza-García, Kosmas Smyrnios, Panikkos Poutziouris, Sanjay Goel. Other large shareholders in family firms: do they monitor? Handbook of Research on Family Business, Second Edition. 2013; ():161-183.

Chicago/Turabian Style

María Sacristán-Navarro; Silvia Gómez-Ansón; Laura Cabeza-García; Kosmas Smyrnios; Panikkos Poutziouris; Sanjay Goel. 2013. "Other large shareholders in family firms: do they monitor?" Handbook of Research on Family Business, Second Edition , no. : 161-183.

Journal article
Published: 30 June 2011 in Journal of Family Business Strategy
Reads 0
Downloads 0
ACS Style

María Sacristán-Navarro; Silvia Gómez-Ansón; Laura Cabeza-García. Large shareholders’ combinations in family firms: Prevalence and performance effects. Journal of Family Business Strategy 2011, 2, 101 -112.

AMA Style

María Sacristán-Navarro, Silvia Gómez-Ansón, Laura Cabeza-García. Large shareholders’ combinations in family firms: Prevalence and performance effects. Journal of Family Business Strategy. 2011; 2 (2):101-112.

Chicago/Turabian Style

María Sacristán-Navarro; Silvia Gómez-Ansón; Laura Cabeza-García. 2011. "Large shareholders’ combinations in family firms: Prevalence and performance effects." Journal of Family Business Strategy 2, no. 2: 101-112.

Research article
Published: 21 March 2011 in Family Business Review
Reads 0
Downloads 0

This article analyzes, using various econometric techniques, how family ownership, family control, and the presence of a second significant shareholder affect firm performance. The authors studied a panel of 118 nonfinancial Spanish companies (711 observations) from 2002 to 2008. Once endogeneity issues were considered, it was found that family ownership did not influence profitability. What seems to matter is family control. This study also reveals the importance of taking into account unobservable heterogeneity and endogeneity issues when analyzing firm performance and provides an interesting future avenue of research: the role played by other large shareholders in family firms.

ACS Style

María Sacristán-Navarro; Silvia Gómez-Ansón; Laura Cabeza-García. Family Ownership and Control, the Presence of Other Large Shareholders, and Firm Performance: Further Evidence. Family Business Review 2011, 24, 71 -93.

AMA Style

María Sacristán-Navarro, Silvia Gómez-Ansón, Laura Cabeza-García. Family Ownership and Control, the Presence of Other Large Shareholders, and Firm Performance: Further Evidence. Family Business Review. 2011; 24 (1):71-93.

Chicago/Turabian Style

María Sacristán-Navarro; Silvia Gómez-Ansón; Laura Cabeza-García. 2011. "Family Ownership and Control, the Presence of Other Large Shareholders, and Firm Performance: Further Evidence." Family Business Review 24, no. 1: 71-93.

Journal article
Published: 01 July 2009 in Journal of Management & Organization
Reads 0
Downloads 0
ACS Style

María Sacristán Navarro; Silvia Gómez Ansón. Do families shape corporate governance structures? Journal of Management & Organization 2009, 15, 327 -345.

AMA Style

María Sacristán Navarro, Silvia Gómez Ansón. Do families shape corporate governance structures? Journal of Management & Organization. 2009; 15 (3):327-345.

Chicago/Turabian Style

María Sacristán Navarro; Silvia Gómez Ansón. 2009. "Do families shape corporate governance structures?" Journal of Management & Organization 15, no. 3: 327-345.

Journal article
Published: 01 September 2007 in Family Business Review
Reads 0
Downloads 0

This aim of this article is to describe, in the Spanish setting, family ownership and to explore how families hold their shares (the use of indirect ownership, pyramids, and cross-shareholdings). It also seeks to describe to what extent cash-flow rights differ from control rights and the degree of the firm's professionalization according to every type of owner category, but especially for families.

ACS Style

María Sacristán-Navarro; Silvia Gómez-Ansón. Family Ownership and Pyramids in the Spanish Market. Family Business Review 2007, 20, 247 -265.

AMA Style

María Sacristán-Navarro, Silvia Gómez-Ansón. Family Ownership and Pyramids in the Spanish Market. Family Business Review. 2007; 20 (3):247-265.

Chicago/Turabian Style

María Sacristán-Navarro; Silvia Gómez-Ansón. 2007. "Family Ownership and Pyramids in the Spanish Market." Family Business Review 20, no. 3: 247-265.